CAB BUSINESS

Cab Business

Cab Business

Assignment 1: Innovative Thinking

As a new company that has been in business for just over a year, with 50 cabs currently under our name, we does not just want to add more business and increase profits. Our aim is to become the preferred cab provider not in London alone but also in Canada. We will do this by continuing to garner relationships with many businesses and corporations, such as, hotels, motels, and hospitals. This will prove to customers that we are committed to provide a reliable service. There is direct and indirect competition being faced in this industry. Direct competition in the form of other cab companies and indirect competition in the form of other forms of public transportation and people owning their own vehicles or walking/biking must be dealt with carefully.

Aboutown Cab: is the market leader in cab services and represents half of the cabs in London, Ontario. Aboutown offers a wide range of transportation services. and has five divisions of Aboutown, the other divisions are the Airbus Express, Charters, NorthLink and the Executive Sedan division. The Aboutown Cab is the original division which began in 1947 and currently has over 165 cabs. The Aboutown fleet is operated by the company and independent business people. This division operates on a custom G.P.S and computerized camera system. Aboutown cabs offer various methods of payment, including company accounts, credit, debit and cash. The Executive Sedan has the exclusive concession for the London International Airport ("Aboutown: Cabs"). Checker Limousine: Is part of a parent company, Voyageur Transportation Services. Voyageur Transportation was founded in 1979 in London Ontario with a commitment to be a more personalized service with putting people first. Their high standards have allowed them to gain a solid reputation earning them many long-term relationships.

Voyageur Transportation operates across Ontario from their facilities in London, Chatham, Waterloo Region and Sarnia. Voyageur's divisions include Non-Emergency Patient Transfer Services, School Buses, Charters, Checker Limousine, and Trucking division. They provide flexible options for booking, such as, calling or booking online. They provide options for pricing which are zone based pricing (in-town), hourly pricing (in-town and out-town), by-the-kilometer pricing (out-of-town). This division provides many specialized services including Checker authorized vouchers for ongoing or a temporary basis, personal VIP accounts, business VIP accounts, and Special Events services ("Voyageur Transportation Services").

U-NEED-A-CAB Ltd.: was founded over 54 years in London Ontario, the company has approximately 125 cabs under its name. The cab driver's are self-employed and cabs are independently operated by the cab drivers. Revenues for the company were approximately $711,172. U-NEED -A-CAB is a strong competitor and like Yellow London Cab, is a company completely dedicated to providing only a cab services ("U-Need-A-Cab Limited").

Despite the strong competitors who all are well established, Yellow London Cab can continue targeting the student population in London, with its 10% discount on fare, to capture more of the market. This is a critical point of differentiation and can be used as a competitive ...